Source Energy definition
Examples of Source Energy in a sentence
Any amounts recovered by New Source Energy on behalf of the MLP shall be contributed to the MLP and will not be counted towards any deductible included in Section 2.2(b).
At any time during the Initial Term, Secondary Term and for one year thereafter, the General Partner shall have the right to review and, at the General Partner’s expense, to copy, the books and records maintained by New Source Energy relating to the provision of the Services.
The name of the Partnership shall be “New Source Energy Partners L.P.” The Partnership’s business may be conducted under any other name or names as determined by the General Partner, including the name of the General Partner.
The name of the Company is and shall continue to be “New Source Energy GP, LLC” and all Company business must be conducted in that name or such other names that comply with Law as the Board of Directors may select.
New Source Energy shall not permit any liens, encumbrances or charges upon or against any of the Properties arising from the provision of Services or materials under this Agreement except as approved, or consented to, by the General Partner.
Accordingly, New Source Energy agrees that the General Partner shall be entitled to immediate equitable relief, including a temporary or permanent injunction, to prevent any threatened, likely or ongoing violation by New Source Energy, without the necessity of posting bond or other security.
Subject to the last sentence of Section 7.1(a), nothing in this Article VII shall prohibit the MLP, New Source Energy or any of their respective affiliates from conducting business in any location, including in and near the areas where the MLP Assets are located.
New Source Energy acknowledges and agrees that a breach by it of its obligations under this Article VII would cause irreparable harm to the General Partner and that monetary damages would not be adequate to compensate the General Partner.
Effective as of the Effective Time, (i) the initial membership interest in the Company held by New Source Energy as the initial sole member prior to the Effective Time shall be converted into a 50.0% Membership Interest and (ii) each of the ▇▇▇▇▇▇▇▇▇ Trust and Deylau shall be issued the percentage ownership interest of the Membership Interests set forth on Exhibit A and each shall be admitted as a Member of the Company.
If New Source Energy uses or licenses intellectual property owned by third parties in the performance of the Services, New Source Energy shall obtain and maintain any such licenses and authorizations necessary to authorize its use of such intellectual property in connection with the Services.